DreamWorks Animation CEO Jeffrey Katzenberg’s annual base salary will increase 150% from $1 million a year to $2.5 million under a contract extension reached with the studio.
Katzenberg’s term as CEO will now run through 2017. His previous contract had run until the end of 2014.
He will also be eligible for $4 million a year in cash bonuses. According to United States Securities and Exchange Commission, he will also be eligible for long-term equity incentives of $4.5 million. These have been reduced from $8 million under his previous agreement.
In addition, Katzenberg will be compensated for such business expenses as private aircraft use for business-related travel and security personnel.
The new terms stipulate that if DWA changes owner, Katzenberg could collect his compensation for the rest of the current contract or for two years, whichever is longer.
Meanwhile, Ann Daly’s term as chief operating officer has been extended through 2017, too. Her annual base salary is being hiked from $1.012 million to $1.5 million.
Daly will be eligible for $750,000 in annual cash bonuses this year, which will be doubled in 2013. She also will be eligible for annual long-term equity incentives of $3.5 million, up from $2.5 million under her earlier agreement.
Under a new agreement, general counsel Andrew Chang’s annual salary increases from $460,000 to $550,000, starting next year. The agreement runs until January 1, 2016.